Renting an Apartment in South Boston - A Snapshot of the Apartment Rental Market

It’s no secret South Boston has become one of the most popular neighborhoods in the city.  This small area has a big reputation from pop culture and film, and as a result, South Boston has seen an influx of new residents over the past decade.  This has had a remarkable effect on the rental market, as a once affordable part of Boston now is one of the most coveted and, in some areas, most expensive parts of Boston.  

Being the local leader in apartment data for Boston, we have more aggregate South Boston apartments in our database than any other real estate entity.  Utilizing our real time database of 2,466 apartments for rent in South Boston, and over 150 local apartment rental agents meticulously calling landlords to update listings and prices, we are able to provide the most accurate and up to date apartment data for South Boston and beyond.  

At the moment, South Boston has one of the lowest real-time availability rates and vacancy rates in all of Boston.  Out of the 2,446 South Boston units in our database, only 41 are currently available or becoming available in the next 12 months.  That’s a staggeringly low 1.7% real time availability rate.  The only neighborhood in Boston with a lower availability rate is Charlestown at 1.44% and it has significantly less overall inventory than South Boston.  

New residents looking to move in immediately will have better luck in other parts of Boston.  South Boston boasts the lowest realtime vacancy rate of any neighborhood in Boston at .28%.   Out of 2467 non-luxury units in our database in South Boston, only 13 are currently available for rent and immediate move-in.  We purposely pull large luxury buildings data out of the equation to give you the most accurate representation of the general market possible.

Renters looking for an apartment in South Boston will have the best luck looking in Andrew Square, which currently has an availability rate of 5.28%.  All other neighborhoods in South Boston have availability rates lower than 2%.  Thomas Park has the lowest availability in South Boston.  Out of 145 non luxury Thomas Park apartment units in our database, not even a single unit is currently available, and while there could be some coming available due to the July 1^st lease cycle,  0% is 0% with many landlords telling us their tenants have chosen to renew.  You may have better luck looking for rooms for rent in South Boston in these areas!  

The chart below breaks down current availability rates in South Boston by neighborhood:

While rent prices have increased considerably over the past couple decades, they fall close to what’s considered “average” across the city of Boston.  The current average rent for a 2 bedroom apartment in South Boston is $2,777 per month, very close to the average for all of Boston, which is $2,564 per month.  The price for a 3 bedroom is significantly higher than the average for Boston:  $3,631 average for South Boston compared to $3,055 per month for all of Boston.

Compared to other neighborhoods in Boston, South Boston’s rent prices resemble those of the Charlestown and Fenway.  The average prices for a 2 and 3 bedroom in Charlestown is $2,748 and $3,440 respectively, and in Fenway a 2 bedroom will run you $2,932 per month on average, and a 3 bedroom will run you $3,631 on average.  

As far as the neighborhoods inside of South Boston, the East Side, West Side and Thomas Park are the most expensive section to rent.  The average rent price for the West Side is $2,847 for a 2 bedroom apartment and $3,494 per month for a 3 bedroom.  For Thomas Park, average rent prices are similar at $2,883 per month for a 2 bedroom and $3,453 for a 3 bedroom.  The East Side is not much lower than these 2 neighborhoods, with prices hovering around $2,817 for a 2 bedroom and $3,581 for a 3 bedroom.  Andrew Square is the lowest of the South Boston neighborhoods, with an average rent for a 2 bedroom at $2,601 per month, and $3,453 for a 3 bedroom. 

The chart below breaks down average rent prices by neighborhood in South Boston:

Overall, renting an apartment in South Boston remains to be a good option for renters looking to escape the soaring prices closer to some core downtown areas.  Still, the popularity of this neighborhood makes availability low, and a renter would be smart to start planning their move to South Boston months in advance, paying close attention to new units as they become available.  Our South Boston apartment search service can help you do just that!

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